Financial Friday: Ways to Save for your Mortgage

Published

3 years ago

September 23, 2022

Admin

The following is an advertisement from Adventure Financial.

Becoming a homeowner is about more than just saving for the down payment, it’s about learning how to manage your money for the long term. If you owned a home prior to Mutiny you might be waiting for the banks to start listing again, so how can you be ready?
Thankfully, our Consultants at Adventure Financial have some advice to help you save for becoming a homeowner.

Pay off your current debts

Have a few cars you still need to pay off? It’s important to pay off your debts prior to taking out a mortgage so you aren’t over burdened by monthly payments.

Consistency is key when it comes to savings habits, so once your debts are paid off it’s a good idea to keep acting like you still have a weekly payment, only this time it goes into your savings. With good saving habits it won’t take long for your downpayment to grow.

Reduce your monthly expenses

Are you living in the Eclipse Tower Penthouse? Perhaps downsizing for a few months might be an option, or, why not share the rent with a roommate? Lowering your spending means more cash for your home down payment and lower mortgage costs in the future.

Earn additional income

There are some good income earning part-time jobs in Los Santos. Power-washing has a minimal investment and doesn’t take long until you are turning a profit.

If you don’t mind getting dirty, garbage pickup with friends is another way to earn cash with a group or partner.

Open a Guaranteed Interest Contract

Fleeca Bank may not offer high interest savings accounts but with Adventure Financial Guaranteed Interest Contracts your interest is guaranteed regardless of fluctuations in the economy.

Created with the conservative investor in mind, a minimum investment of $20,000 for either a 1-month, 2-month, or 3-month term will net you interest of 10%, 20%, or 35% respectively.

This low risk, no fuss product means your money will start making money. If you are interested in a Guaranteed Interest Contract call a Business Consultant at Adventure Financial and start saving for your mortgage today!

Reeta McNeal is the CEO of Adventure Financial: a bookkeeping, business consulting, loans and investment firm located in Downtown Los Santos. For a free consult, call: 839-874-4032 or visit bit.ly/adventurefinancial